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  • Rural services company Elders insists its deal to sell high-end New Zealand wool carpets through major American retailer CCA Global Partners is intact, despite persistent farming-sector talk that it is far from signed and sealed. The CCA agreement is a key plank of Elders' strategy for raising the price of New Zealand wool. Like its rival Wool Partners International, it aims to reposition wool as a luxury fibre, sign exclusive supply contracts with farmers and sell direct to overseas marke
  • Oerlikon Textile GmbH, Germany, has reported an uptick of more than 50 percent in orders and 20 percent in sales of textile machinery and components during the third quarter of 2009 compared to the second quarter, indicating an accelerating recovery from the drastic declines seen in the first half of 2009. The increases are attributed primarily to the Oerlikon Barmag, Schlafhorst and Textile Components businesses. The company reported growth particularly in the Chinese market, as well as
  • China-US trade tensions have been heating before the US President's first visit to China. The timing couldn't be worse as the world sees cooperation between Beijing and Washington as crucial to nurturing the recovery of the global economy. BizChina's reporter finds out how trade disputes have escalated and how they could be prevented from bringing global consequences. The trade dispute upgraded in September when the Obama administration announced extra duties on Chinese tyres. Tensions intens
  • A Chinese economist has warned that the country's soaring property prices and equities were "signs of asset bubbles," owing to excessive liquidity. The Economic Information Daily reported Tuesday that Wu Jinglian, an expert with the Development Research Center of China's State Council, or Cabinet, said excessive lending and liquidity would be a long-term problem for the economy rather than liquidity shortages and weak demand. Wu, 79, was one of the first economists to promote the marke
  • HONG KONG, Nov. 16 (Xinhua) -- Chinese mainland-based Xtep International Holdings Limited, a growing sportswear brand, inaugurated its first flagship store for the Disney Sport products in Hong Kong on Monday. Ding Shui Po, company chairman and chief executive officer, said "certainly the next step is to explore the overseas market" given that the brand already has over 5,800 stores covering 31 provinces and provincial cities on the mainland. Established in 1999, Xtep is one of a growing
  • KARACHI: The continuously rising prices of cotton can hurt the local textile sector as analysts and exporters anticipate further rise in the domestic cotton prices because of active buying by the international buyers who have flocked Pakistan amid a shortfall in world cotton production. With increasing demand from international buyers domestic cotton prices will remain high in near future, analysts predicted. Domestic cotton prices have already surged by 21 percent since the start of the cur
  • Ninety-nine-year-old Weave Corp. of Hackensack, whose upholstery material was once used to decorate Camp David, has closed amid pressure from its lender, PNC Bank. The bank on Monday filed a lawsuit in U.S. District Court in Newark to secure possession of the company's assets, asking the court to assign a receiver in connection with millions of dollars in loans. Court papers say the bank learned on Nov. 3 that the company — one of the last textile businesses remaining in North Jersey — had
  • THE BUZZ What do IPO investors and "Twilight" fans have in common? For one thing, they both thrive on anticipation. And as teenage girls everywhere count the days till the Nov. 20 release of the latest film in the vampire saga, they'll have something else in common: Rue21. Since emerging from bankruptcy in 2003, the clothing retailer has prided itself on nimbleness in keeping up with teen trends. Now it's selling a diverse line of T-shirts with images from the upcoming "Twilight: New Moon.
  • DHAKA, Nov. 1 (Xinhua) -- The Bangladeshi government Sunday formed a committee to probe Saturday's violent clashes between police and workers of an apparel factory that left two people dead and scores of others injured, the country's Home Minister said. The decision on forming the five-member probe committee, led by a senior Labor Ministry official, was made in a tripartite meeting of the government, the garment owners and the workers. After the meeting Sunday, the South Asian country'
  • The stalking horse is at the paddock, champing at the bit to buy a significant industrial property in Charleston. The purse in this case is the cavernous, state-of-the-art former Mikasa Inc. distribution center on Clements Ferry Road. Its owner, American Commercial Inc., sought bankruptcy protection in September and to pay its debts has arranged a $20 million sale of the vacant building to a Canadian apparel maker and importer. As previously reported by The Post and Courier, the woul
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